U.S. Markets close in 3 hrs 17 mins

Intel CEO Brian Krzanich says this is the best time in history to buy a PC

Elizabeth Gurdus

Intel's (NASDAQ: INTC) Brian Krzanich may have sounded downbeat on PCs when the company released earnings , but the CEO is still standing by his company's core business.

"This is the best time, I think, in history to go out and buy a PC or be in the PC business because the innovation is tremendous," Krzanich told " Mad Money " host Jim Cramer on Thursday.

The CEO admitted that his bearishness on the PC business came about because customers are buying fewer PCs, but he remained enthusiastic about Intel's wide reach in the market.

"There are other places that people are spending their dollars, so I can't come in to you and say, 'This is a revenue growth engine,'" Krzanich said. "But we've been able to grow profitability and we've been driving innovation with our partners, Microsoft (NASDAQ: MSFT), HP (NYSE: HPQ), Dell (NYSE: DVMT), Lenovo (Hong Kong Stock Exchange: 992-HK)."

Watch the full segment here:

As Intel has restructured its operations over the last several years, other areas have outshone the PC business, Krzanich added.

What the CEO called Intel's "growth businesses," which include the Internet of Things and data centers, now make up nearly 50 percent of the company's revenue and over 50 percent of its profits, he said.

"The products you're going to see over the next couple of years are going to just wow you," he told Cramer.

Moreover, Krzanich said the company's recently announced purchase of the Israeli-based autonomous car company Mobileye (NYSE: MBLY) will give Intel a leg up in the fast-growing self-driving vehicle space.

"Mobileye was a big stake around autonomous vehicles, and those are going to be cars, [and] within our lifetimes, it's going to be things that fly," the CEO said, adding that Intel would achieve those goals by making each vehicle a complete technological platform.

As Intel continues to reinvent itself with initiatives like an ad campaign featuring basketball sensation LeBron James, Krzanich hopes that federal policy will support the profit-driving changes.

With talk of repatriation measures and lower corporate tax rates growing louder in Washington, the CEO said the additional cash would be put to use for the benefit of the country, not just Intel.

"We're going to go reinvest that money and it's going to be reinvested in factories like we just announced , it's going to be in stock buybacks, it's going to be in all kinds of applications," Krzanich told Cramer. "All of those will be job-creating and wealth-creating for the U.S."

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram - Vine

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com

More From CNBC